Talk about a soft market

[Arthu®]

In my humble opinion it is not the need for these cars that is going down. I still believe a lot of people dream about having one (me included). The problem is that nobody has any money. In Holland alone 178 billion euro's evaporated on the stock market since the beginning of 2008. Everybody is hanging on to the small amount they have left, leaving all the financial institutions with greater debts than they could have ever imagined. And all of this while really there was not that much wrong with the european economy or financial institutions... It will be a couple of years until everybody has the ability to spend a little extra again.

Arthur

[Mike DC]

 
I say good riddance to the days of flipping these cars for a fast buck.  That trend has never been anything more to me than a barrier to getting & enjoying a few more of these cars. 


Even when the value of a car that you already own goes up . . . when you don't intend to sell it, then all you're really getting out of the deal is an increase in the price of insuring the thing. 

[Ghoste]

Damned straight Mike, it's a hobby not a portfolio.

[69charger2002]

yeehaa!!! goodbye to flippers!! now maybe i can get a deal!!  

[elanmars]

maybe I can get a simple '68 or '69 charger and not outrageously priced.

that'd be sweet!

[Bob]

yeehaa!!! goodbye to flippers!! now maybe i can get a deal!!  

[41husk]

yeehaa!!! goodbye to flippers!! now maybe i can get a deal!!  

I agree with you but feel there will always be flippers, the cost of the cars and amount of the mark up will be lower to match current market values, but if a guy can buy a car for 6k today that would have cost him 15k a year ago, but he can sell it for 9k tommorow, he will flipp it

[nh_mopar_fan]

In today's market, $15K for a 2 owner 383, AT, AC, PB, rust free 69? Is that a good deal?

[tripleblkr/t]

I just saw that car for sale, dosent look like a bad deal.

[GeneralLeeTESH]

My fear as a hot-rod collector is that desperate county govts. will soon add a "Value Tax" on your classic car in order to get more money out of you and me...because they see it as a "Tax-Shelter !"

[41husk]

Don't they already do that in states that have personal property tax?  We don't have that inconvienance in Illinois, but I know when I was stationaed in VA I always kept my cars registered in Illinois.  It seemed like they taxed you on anything you owned, made a guy nervouse about buying new underwear

[Brock Samson]

http://jalopnik.com/5060477/classic-muscle-car-values-next-thing-to-tank
 

"If you've watched in amazement over the past decade or so as prices for classic American muscle cars went through the stratosphere, you're about to see a correction. No, one-of-four Hemi Coronets aren't going to be trading at sub-$10k prices, but if you have a job, a comfortable savings account and a hankering for cubic inches, the next six months will likely provide the best buying opportunity since the 1990s. Why? Lots of those GTOs and big-block Chevelles that hit $50k+ were snapped up by folks of moderate means who raided their 401k accounts to relive their youths; now those same folks need the cash again, and desperate sellers equal a buyer's market.

Already, auction results are starting to show signs of impending weakness. A quick look through the results of RM's Monterey sale in the latest Hemmings Muscle Machines shows most of the cars selling at or below recent average sale values, and that event took place before the black-hole economy had really hit the news. Chances are your local Craigslist is still full of crackheads who want $40k for their four-door Gran Torino (with chrome Edelbrock air cleaner!), but start scanning Hemmings and Collector Car Trader; if you've got the means and the garage space, you can snap up an investment that'll be a lot more fun than T-bills."